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An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
An invitation to offer is defined as "a manifestation that a person expects another person to make an offer" and the code specifically provides that "Auction announcements, bidding announcements, stock prospectuses, bond prospectuses, fund prospectuses, commercial advertisements and promotions, mailed price catalogs, and the like, are ...
If there is any variation, even on an unimportant point, between the offer and the terms of its acceptance, there is no contract. In the United States, the Uniform Commercial Code provides for acceptance even when terms of the acceptance differ from terms of the offer. This might occur, for example, when a buyer's "Terms and Conditions" differ ...
Learn more about finding coverage after a nonrenewal. Key Takeaways. Homeowners insurance companies must provide written notice if they choose to nonrenew a policy.
Non-solicitation, in contract law, refers to an agreement, typically between an employer and employee, that prohibits an employee from utilizing the company's clients, customers and contact lists for personal gain upon leaving the company.
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To be announced (TBA) is a placeholder term used very broadly in event planning to indicate that although something is scheduled or expected to happen, a particular aspect of it remains to be fixed or set.